NEW YORK  Hundreds of thousands of revelers rang in 2009 from frigid Times Square as the famous Waterford crystal ball dropped, signaling the end of a historic and troubled year that saw the election of the first black U.S. president and the worst economic crisis in decades.

As the clock struck midnight, a ton of confetti rained down while the partygoers hugged and kissed.

Josh Torres and his girlfriend, Sarah Manganello, both 21, screamed and cheered as they watched the ball drop. Manganello had advice for people in the new year: "Learn from what you've done and move forward."

The wind chill made it feel like 1 degree in the area, but that didn't stop the throngs bundled in fur hats, heavy coats and sleeping bags from attending the event.

Former President Bill Clinton and Sen. Hillary Clinton helped Mayor Michael Bloomberg lower the ball atop 1 Times Square for the 60-second countdown to midnight. Last year, Hillary Clinton was in Iowa campaigning for the presidency, and now she's expecting to be secretary of state in President-elect Barack Obama's administration.

Many other New Year's Eve traditions around the country were in place, but some festivities fell victim to hard times, and those that remained felt somewhat subdued. The nation's economic troubles made many people less interested in giving 2008 an expensive send-off. Public celebrations were canceled in communities from Louisville, Ky., to Reno, Nev., and promoters in Miami Beach, Fla., reported slower ticket sales than expected for celebrity-studded parties that they say would have sold out in past years.

But New York's celebration was still going strong. Five minutes before midnight, 1,000 balloons with the words "Joy," "Hope" and "2009" were released from rooftops in the area. The Waterford crystal ball – 12 feet in diameter and weighing nearly 12,000 pounds – dropped as the crowd erupted in cheers.

Sam Tenorio and his family drove to New York from Orlando, Fla., so his teenage daughter Brianna could see the Jonas Brothers perform live in Times Square.

"The economy is what it is. It's going to turn around. You just have to be positive," Tenorio said. "That's what we're doing, otherwise we wouldn't be here. I think that's why most people are here tonight: optimism."

Along with the Jonas Brothers, Lionel Richie and the Pussycat Dolls performed. Dick Clark made several TV appearances from inside a studio, and Ryan Seacrest hosted the event.

Las Vegas casinos put on a midnight fireworks display and daredevil acts, including a 200-foot jump at The Mirage hotel-casino by Robbie Knievel, son of the late Evel Knievel.

The stunt made Knievel appear to jump over a manmade volcano perched in front of the hotel-casino, though he actually jumped next to it as it spewed a fireball under him for live spectators.

Others weren't so lucky. Windy weather and rough harbor waters caused Baltimore officials to postpone a New Year's Eve fireworks celebration. In Reno, officials canceled their fireworks show for the first time since 2000.

"With the downturn in the economy, with people getting laid off and with the tightening of budgets all over town, we just didn't think it was right to spend $20,000 or $30,000 on something that goes up in smoke," Mayor Bob Cashell said.